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Spire (SR) AI Stock Analysis
Spire
(NYSE:SR)
SR’s score is primarily held back by financial quality concerns—especially recurring negative free cash flow and higher leverage—despite strong regulated-utility margins. Valuation (low P/E and solid dividend yield) and constructive multi-year guidance from the earnings call provide meaningful support, while technical indicators remain mixed and do not yet confirm a strong uptrend.
Spire Key Performance Indicators (KPIs)
Spire (SR) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $5.25B
- Dividend Yield
- 3.72%
- Average Volume (3M)
- 509.03K
- Price to Earnings (P/E)
- 9.9
- Beta (1Y)
- 0.04
- Revenue Growth
- 4.12%
- EPS Growth
- 93.82%
- Country
- US
- Employees
- 3,497
- Sector
- Utilities
- Sector Strength
- 66
- Industry
- Regulated Gas
Spire Business Overview & Revenue Model
Company Description
Spire Inc. operates as a public utility holding company, which provides natural gas services through its regulated core utility operations while engaging in non-regulated activities. It operates through the following business segments: Gas Utility, G...
How the Company Makes Money
Spire makes money primarily by selling access to its data sets and analytics products generated from its satellite constellation, typically delivered via software subscriptions, data feeds, and service contracts. Key revenue streams include (1) Marit...
Spire Earnings Call Summary
The call conveyed meaningful strategic progress: Spire completed the shift to a fully regulated business, reaffirmed guidance, articulated a sizable capital plan and reported strong one-time gains from divestitures while showing operational improvement in the gas utilities segment. However, continuing operations remain in a modest loss, corporate costs and interest expense increased, weather-driven revenue variability in Missouri remains unresolved, and credit metrics are in transition. On balance, the positives — transformation to a regulated model, reaffirmed multi-year guidance, capital and financing plans, and regulatory milestones — outweigh the near-term operational and cost headwinds.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Spire reaffirmed fiscal 2026 adjusted EPS guidance of $3.90–$4.10 per share (excludes a full year of storage, marketing and Tennessee, includes Mississippi) and fiscal 2027 adjusted EPS guidance of $5.40–$5.60, reiterated a long‑term adjusted EPS growth target of 5%–7% anchored to the original fiscal 2027 midpoint of $5.75, and said that outlook is supported by an $11.2 billion 10‑year capital plan; expected FY2026 capital expenditures of ≈$800 million (≈$600 million invested in the first nine months); anticipated rate base growth of ~7% in Missouri and 7.5% in Tennessee and ~6% regulated equity growth in Alabama and Gulf; a financing plan to fund most capex with operating company debt and cash with limited equity issuance; a $375 million interest‑rate hedge portfolio; a target FFO-to-debt of 14%–15% by end of 2028 (current ~13% TTM inclusive of Tennessee); and Q3 discontinued operations earnings of $253.8 million, which included an after‑tax gain on sale of $254.6 million.
Spire Financial Statement Overview
Summary
Profitability is solid for a regulated utility (TTM net margin ~14.1%, EBIT margin ~23.2%) and net income improved in TTM, but the fundamentals are constrained by persistent revenue declines across periods, a step-up in leverage (TTM debt-to-equity ~2.33x), and weak cash conversion with recurring negative free cash flow (TTM FCF -$203M).
Income Statement
66PositiveBalance Sheet
54NeutralCash Flow
38Negative| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.54B | 2.48B | 2.59B | 2.67B | 2.20B | 2.24B |
| Gross Profit | 829.50M | 1.93B | 982.30M | 887.90M | 825.00M | 823.40M |
| EBITDA | 871.20M | 833.70M | 789.10M | 696.80M | 636.80M | 659.90M |
| Net Income | 548.30M | 271.70M | 250.90M | 217.50M | 220.80M | 271.70M |
Balance Sheet | ||||||
| Total Assets | 14.09B | 11.58B | 10.86B | 10.31B | 10.08B | 9.36B |
| Cash, Cash Equivalents and Short-Term Investments | 20.70M | 5.70M | 4.50M | 5.60M | 6.50M | 4.30M |
| Total Debt | 7.26B | 5.24B | 4.76B | 4.74B | 4.36B | 3.73B |
| Total Liabilities | 10.50B | 8.18B | 7.62B | 7.38B | 7.25B | 6.69B |
| Stockholders Equity | 3.58B | 3.39B | 3.23B | 2.92B | 2.82B | 2.66B |
Cash Flow | ||||||
| Free Cash Flow | -202.90M | -344.40M | 51.10M | -222.30M | -497.20M | -375.00M |
| Operating Cash Flow | 608.70M | 578.00M | 912.40M | 440.20M | 55.00M | 249.80M |
| Investing Cash Flow | -2.49B | -916.40M | -1.03B | -695.50M | -546.70M | -622.00M |
| Financing Cash Flow | 1.89B | 344.70M | 123.90M | 260.60M | 500.90M | 379.40M |
Spire Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SR, the sentiment is Positive. The current price of 88.81 is above the 20-day moving average (MA) of 84.84, above the 50-day MA of 81.52, and above the 200-day MA of 83.48, indicating a bullish trend. The MACD of 2.52 indicates Negative momentum. The RSI at 68.13 is Neutral, neither overbought nor oversold. The STOCH value of 68.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SR.
Spire Risk Analysis
Spire disclosed 31 risk factors in its most recent earnings report. Spire reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
2 New RisksSpire Peers Comparison
Overall Rating
BKH76Outperform
NJR74Outperform
SWX67Neutral
OGS66Neutral
NWN63Neutral- SR58Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| BKH | 76Outperform | $6.45B | 20.30 | 10.76% | 3.28% | 2.80% | 5.11% |
| NJR | 74Outperform | $5.55B | 14.95 | 14.42% | 3.54% | 7.08% | -11.82% |
| SWX | 67Neutral | $6.56B | 25.30 | 6.42% | 2.77% | -56.99% | -43.86% |
| OGS | 66Neutral | $5.14B | 17.14 | 8.35% | 3.35% | -1.89% | 9.38% |
| Sector * | 66Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% |
| NWN | 63Neutral | $2.18B | 16.78 | 8.23% | 3.82% | 3.16% | 20.58% |
| SR | 58Neutral | $5.28B | 9.95 | 15.87% | 3.72% | 4.12% | 93.82% |
* Utilities Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| SR | Spire Inc | 88.81 | 2.72 | 3.16% | |
| BKH | Black Hills | 84.87 | 16.41 | 23.97% | |
| NJR | New Jersey Resources Corporation | 54.34 | 10.36 | 23.56% | |
| NWN | Northwest Natural Gas | 51.75 | 6.58 | 14.58% | |
| SWX | Southwest Gas | 91.33 | 14.37 | 18.67% | |
| OGS | ONE Gas Inc | 80.92 | 2.09 | 2.65% |
Spire Corporate Events
Spire Missouri Files Rate Case Seeking $228 Million Revenue Increase
NeutralOn Nov. 2, 2026, Spire Missouri, a wholly owned Spire subsidiary, filed a general rate case with the Missouri Public Service Commission seeking a $228 million total revenue requirement, including $57 million through the Infrastructure System Replacem...
Spire Extends Credit Agreement, Enhancing Long-Term Financing
PositiveOn October 13, 2026, Spire Inc. and its Missouri, Alabama and Tennessee subsidiaries amended their existing credit agreement with a banking syndicate led by Wells Fargo, extending the final maturity date by one year from October 11, 2030, to October...
Spire Missouri Raises $350 Million Through Bond Issuance
PositiveSpire Missouri Inc., the natural gas utility subsidiary of Spire Inc., strengthened its capital structure with a new secured debt issuance, reflecting continued reliance on long-term bond markets to finance its regulated operations and manage existin...
Spire Secures $400 Million Short-Term Term Loan Facility
PositiveOn August 31, 2026, Spire Inc. entered into a Delayed Draw Term Loan Agreement providing $400 million in senior unsecured term loan commitments with a syndicate of banks led by Mizuho Bank and U.S. Bank. The facility allows up to four borrowings thro...
Spire Posts Q3 Loss, Reaffirms Regulated Utility Focus
NeutralOn August 5, 2026, Spire reported fiscal third-quarter 2026 results showing a consolidated net loss from continuing operations of $42.6 million, or $0.72 per diluted share, with adjusted loss at $15.7 million, or $0.26 per share, compared with a $13....
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 13, 2026